The Russellville School Board approved the 2012-13 financial report and the 2013-14 operating budget at a called meeting Monday.

The board held discussions for more than two hours before calling the meeting to order shortly after 2 p.m. to vote on the sole agenda item.

Nathan Barber, Russellville School District (RSD) business manager, said the approved budget indicates an ending balance of more than $10 million in operating funds after paying the bills, which will be carried over to the 2014-15 school year.

He said the 2013-14 RSD budget is $70,812,276 and includes all funds.

“The budget is a guide and a tool for us to use to understand what’s affordable,” Barber said.

He said the budget can be adjusted as needed even after the board approves it.

The board members were given a copy of the budget later in the school year than usual, which Barber said was beneficial because the district is “constantly finalizing staff and making revisions” that can affect the budget.

“By waiting a little later, we’ve made the budget a little more accurate,” Barber said.

All school board members — President Morgan Barrett, Secretary Wesley White, Vice President Allan George, Chris Cloud, Margie Smith, Breanne Davis and Randy Campbell — were present at the meeting.